Posts tagged ‘Mining’

Mongolia has dropped from 55th place to 67th place out of 72 jurisdictions in the annual Survey of Mining Companies 2009/2010, released on April 15 by the Fraser Institute, one of Canada’s leading public policy think-tanks.

This is Mongolia’s lowest ranking since 2006. Mining industry executives rate Quebec as the world’s most attractive jurisdiction for mineral exploration and development for the third straight year

In the “policy potential index,” Mongolia was in the bottom 10 of 72 jurisdictions rated. Countries rated lower than Mongolia were the Congo (DRC), Zimbabwe, the Philippines, Ecuador and Venezuela. In 2008/2009, Mongolia ranked 55th out of 71, in 2007, 61st of 68, and in 2006-2007, 62nd of 65. California was also in the bottom 10 this year, ranked below Indonesia.

After 18 months of negotiations and wrangling over a nuclear energy law, the Mongolia State Ikh Khural (Parliament) quietly passed the Nuclear Energy Law (NEL) in July of this year. During a recent public forum on the NEL sponsored by the Mongolian National Mining Association several members of Parliament admitted the law had been proposed and passed in less than two weeks during July. This, of course, begs the question of why a law that regulates such an important and potentially dangerous sector was passed so quickly and presumably without much input from other stakeholders in the nuclear sector in Mongolia.

Why a law that regulates such an important and potentially dangerous sector was passed so quickly…

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